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Suppose your company sells services of $240 in exchange for $165 cash and $75 on account. Depreciation of $95 relating to equipment is also recorded.

Suppose your company sells services of $240 in exchange for $165 cash and $75 on account. Depreciation of $95 relating to equipment is also recorded.

  • Record the service revenue of $165 for cash and $75 on account.
  • Record the depreciation expense of $95.

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